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Article
Publication date: 11 November 2024

Hiteshkumar Thakkar and Pranay Agarwal

Coase theorem is more interested in increasing the economic value of the transaction through a libertarian approach, i.e. free bargain than a utilitarian approach, i.e. maximum…

Abstract

Purpose

Coase theorem is more interested in increasing the economic value of the transaction through a libertarian approach, i.e. free bargain than a utilitarian approach, i.e. maximum benefit to a maximum number of people. Ex ante Corporate Insolvency Resolution Process (CIRP) ensured that the stakeholders would arrive at an efficient outcome through bargaining and negotiation regardless of the initial allocation of legal rights. It also minimizes transaction costs to facilitate a voluntary resolution/settlement process; otherwise, it is costly to determine how much stakeholder value the same. The purpose of this study is to examine how the Coase theorem can enhance efficiency in corporate insolvency by facilitating effective bargaining and negotiation among stakeholders, minimizing transaction costs and ensuring optimal outcomes, regardless of the initial allocation of legal rights.

Design/methodology/approach

This research relies on a mixed method – quantitative data and qualitative data from the relevant stakeholders in the CIRP to verify the Coase theorem in the real world. The quantitative data collection involves a sample of 103 individuals categorized into three groups: advocates (71 participants), creditors (five participants) and resolution professionals (RPs) (27 participants). Qualitative data collection involves conducting personal interviews (PI) as the primary method, supplemented by panel discussions and observations during National Company Law Tribunal proceedings.

Findings

Insolvency and Bankruptcy Code (IBC) helps creditors to recover their dues through a cost-efficient ex ante CIRP process. The structure of IBC is to minimize the harm caused by the failure of a private agreement/settlement. However, when private negotiation/settlement fails, the insolvency law allocates the rights to the party who values them most. The CIRP process has prioritised the economic principle of high-value ownership, thus allocating the rights to the higher-value owner.

Practical implications

This study focuses on practitioner responses within the CIRP, including practical insights from advocates, creditors and RPs.

Originality/value

The IBC has substantially reduced transaction costs by streamlining provisions and imposing stringent timelines to facilitate smoother negotiations. CIRP is a unique mechanism that provides a group solution while maintaining the balance between the stakeholders’ welfare and the process’s efficiency.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 20 September 2024

Anita Goyal and Pranay Verma

This study aims to examine involvement and perceived usefulness (PU) as the drivers of loyalty for online booking websites, revealing findings of theoretical and practical…

Abstract

Purpose

This study aims to examine involvement and perceived usefulness (PU) as the drivers of loyalty for online booking websites, revealing findings of theoretical and practical relevance. The proposed conceptual model is drawn on elaboration likelihood model (ELM) along with the consideration of expectation confirmation model for loyalty development.

Design/methodology/approach

A two-stage structural equation modeling was applied to test the reliability and validity of the constructs and the strength of the hypothesized relationships.

Findings

Attitudinal loyalty (AL) is found to have a significant role, resulting in behavioral loyalty (BL) toward online booking. The results of this study supported the ELM framework, where involvement and PU resulted in BL through AL. PU and AL also served as mediating mechanisms underlying the impact of consumer involvement on BL.

Originality/value

This study applies the ELM to online ticketing mechanisms and nuances amid AL and BL with their drivers.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

Keywords

Article
Publication date: 24 May 2024

Pranay Verma

This research was motivated by the recognition that the use of mobile-based agricultural extension services (AES) applications has become increasingly popular among the bottom of…

Abstract

Purpose

This research was motivated by the recognition that the use of mobile-based agricultural extension services (AES) applications has become increasingly popular among the bottom of the pyramid segment in recent years. However, users’ adoption is determined not only by their perception of the technology but also by its perceived wealth. In other words, even though a technology may be perceived as advanced, if it does not fit users’ wealth perception benefits, they may not adopt it. Using an extended unified theory of acceptance and use of technology (UTAUT) perspective, this study aims to explore potential predictors of behavioral intention toward AES such as effort expectancy, performance expectancy, customer wealth (CW), social influence and perceived characteristics of innovation.

Design/methodology/approach

Potential causal connections between key UTAUT factors and users’ intentions to use the services are hypothesized. An integrated theoretical model was developed and tested against the empirical data collected from 336 AES users. A measurement model and structural equation model were tested using AMOS 22.0 and confirmed all 14 hypothesized relationships.

Findings

The results were consistent with the recent literature on mobile technology acceptance, confirming an unmoderated relationship between CW and the adoption of mobile-based AES. This research proposes a mobile AES user adoption model by integrating CW with the unified theory of acceptance and usage of technology (UTAUT).

Originality/value

This study establishes CW as an outcome of various relationships.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Article
Publication date: 6 December 2019

Pranay Sureshbhai Parmar and Tushar N. Desai

The purpose of this study is to determine the current status of Sustainable Lean Six Sigma (SLSS) practices execution in the industries by identifying the research gaps and also…

1127

Abstract

Purpose

The purpose of this study is to determine the current status of Sustainable Lean Six Sigma (SLSS) practices execution in the industries by identifying the research gaps and also methodologies that are applied by different researchers and practitioners.

Design/methodology/approach

To find the current status of SLSS practices all over world, the literature review of the articles available through SCOPUS data base is given in different categories such as a country-wise and year-wise publication of the articles, journal-wise publication of articles, case study implementation focus in industry and data analysis techniques used by the researchers.

Findings

The different methodologies applied by the researchers and practitioners have been explained and the gaps for further research are identified. The extensive review of articles of last 18 years revealed that there are various opportunities such as quantitative study, framework modeling on the SLSS, and implementation of developed models in different industries, etc. which are required to be explored.

Originality/value

In the present study, a review of 129 articles for the time span of January 2000 to February 2018 is considered. The SCOPUS database was used for selecting the articles for review. A total of 129 articles were considered for the literature review, and the case study implementation in different industries with the focused areas such as cost reduction, defect reduction, economic, environmental and social aspects was explained.

Details

International Journal of Lean Six Sigma, vol. 11 no. 3
Type: Research Article
ISSN: 2040-4166

Keywords

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